Processing Assets definition

Processing Assets means cryogenic processing facilities, mechanical refrigeration units, compression facilities, and other facilities for purifying natural gas for transmission on Natural Gas Pipelines or extracting natural gas liquids for transmission on Natural Gas Liquids Pipelines, including all appurtenances, fee property, leases, easements, licenses, permits, right of ways, contracts, contract rights and other rights, necessary for the design, development, construction, maintenance, upkeep, repair, or operation thereof.
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Processing Assets means processing plants, machinery, equipment and structures acquired for the purpose of processing mineral substances and ancillary activities, but does not include,
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Processing Assets has the meaning assigned to such term in the recitals.
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Examples of Processing Assets in a sentence

  • Except as set forth in Disclosure Schedule 3.6, QEPFS has, and on the Closing Date the Company will have, good and valid title to the Processing Assets that are used or necessary to conduct the Business as presently conducted, free and clear of any Liens, except for any Permitted Liens.

  • QEPFS or its Affiliates maintain, and on the Closing Date the Company will maintain, policies of fire and casualty, liability and other forms of property and liability insurance related to the Business and the Processing Assets in such amounts, with such deductibles, and against such risks and losses as are, in their judgment, reasonable for the Business and the Processing Assets.

  • No proceeding is pending or, to QEPFS’s Knowledge, threatened with respect to any alleged failure by QEPFS to have any material Permit necessary for the operation of the Processing Assets or the conduct of the Business or to be in material compliance therewith.

  • Other than as set forth in a Material Contract or on the budgets and authorized for expenditures made available via data room to the Conflicts Committee and its representatives before the date hereof, there are no outstanding capital commitments or other expenditure commitments that are binding on QEPFS with respect to the Business, the Company or the Processing Assets.

  • Disclosure Schedule 3.8(c) sets forth those Processing Assets that have been damaged or destroyed within three (3) years preceding the Execution Date and for which QEPFS incurred expenses of $1,000,000 or more to repair such damage or destruction.

  • The purchase of the Subject Interest will be treated for U.S. federal income tax purposes as a purchase of a 40% interest in each of the Processing Assets by the Partnership followed by a pro rata contribution of the Processing Assets by each of QEPFS and the Partnership to the Company in exchange for membership interests in the Company in accordance with Revenue Ruling 99-5 (Situation 1).

  • SMEP may impose reasonable restrictions and limitations upon access to all or any portion of the Terminal or Terminal Assets, including restrictions as to time and place of access at any particular time or location to the extent it does not materially interfere with Sellers’ exercise of its rights hereunder or use and operation of its Retained Processing Assets.

  • SemMaterials and K.C. Asphalt, as the case may be, shall be solely responsible for and shall pay and discharge when due and payable all costs and expenditures that directly relate solely to the ownership or operation of the Retained Processing Assets.

  • Any insurance proceeds or damages received in connection with any casualty to (i) the Terminal Assets, SMEP Owned Real Property or the SMEP Leased Property (excluding the portion of any such insurance proceeds or damages which is attributable to the Retained Land Rights) shall belong to and be the property of SMEP and (ii) the Retained Processing Assets or the Retained Land Rights shall belong to and be the property of SemMaterials or K.C. Asphalt, as the case may be.

  • In addition, (i) SemMaterials or K.C. Asphalt, as the case may be, shall be entitled to that portion of any eminent domain or condemnation awards which are attributable to the Retained Processing Assets, (ii) SMEP shall be entitled to that portion of any eminent domain or condemnation awards which are attributable to the Terminal Assets, and (iii) each of the parties may claim damages payable on account of relocation expenses relating thereto, to the extent permitted under applicable law.


More Definitions of Processing Assets

Processing Assets means tailings disposal facilities and depreciable assets located in Ontario that are used directly and exclusively in processing;
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Processing Assets means depreciable assets that are milling, smelting or refining buildings and the equipment therein whether or not those buildings and equipment are placed in production, placed in an available for use basis or abandoned;
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Processing Assets means any depreciable asset of an operator that is a building or part of a building in which only secondary crushing, grinding, concentrating, chemical extraction, smelting, refining or packaging activities take place and all equipment that is used solely for secondary crushing, grinding, concentrating, smelting, refining and packaging and is maintained on an available for use
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Processing Assets means the assets described in Exhibit D to this Agreement. “QEP Field Services” shall have the meaning set forth in the Recitals to this Agreement. “QEPFS’’ shall have the meaning set forth in the Recitals to this Agreement.“Transfer” shall mean to transfer, sell, assign, pledge, hypothecate, give, create a security interest in or lien on, place in trust (voting or otherwise), assign or in any other way encumber or dispose of, directly or indirectly and whether or not by operation of law or for value, any Interest. EXHIBITB THE COMPANY THE COMPANYADDRESS FOR NOTICE PURPOSESGreen River Processing, LLC19100 ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ (▇▇▇) ▇▇▇-▇▇▇▇ (phone) (▇▇▇) ▇▇▇-▇▇▇▇ (facsimile) Members ADDRESS FOR CAPITAL Members NOTICE PURPOSES CONTRIBUTION QEP Field Services, LLC QEP MidstreamPartners, Operating,LLC ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ (▇▇▇) ▇▇▇-▇▇▇▇ (phone) (▇▇▇) ▇▇▇-▇▇▇▇ (facsimile) Processing Assets described in Exhibit D EXHIBIT C MEMBERSHIP INTEREST Member Membership Interest QEP Field Services Company 60% QEP Midstream Partners Operating, LLC 40% EXHIBITD PROCESSING ASSETS DESCRIPTION The Processing Assets include all of the natural gas processing and fractionation facilities and related assets, properties, rights and interests owned, leased or used by QEPFS that are usedto process and fractionate natural gas and provide related services at the Blacks Fork Complex and Emigrant Trail Processing Plant, each as described below, including (i) the facilities, fixtures, compressors, pipes, pipeline interconnect facilities, storage tanks, rail loading facilities and appurtenant machinery, equipment and facilities owned, leased or used by QEPFS (collectively referred to as the “Facilities”); (ii) permits, licenses and authorizations of governmental entities used by QEPFS in the Business, or in the ownership, operation, maintenance, repair or replacement of the Facilities; (iii) easements, rights-of-way agreements, option agreements, use agreements and similar type land-related agreements of QEPFS that are used in the Business or in connection with the ownership, operation, maintenance, repair or replacement of the Processing Assets; (iv) fee interests in real property owned by QEPFS relating to the Processing Assets; (v) leases and other similar interests covering real property that are owned or held by QEPFS and used in the conduct of the Business or in the ownership, operation, maintenance, repair or replacement of the Processing A...
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Processing Assets has the meaning assigned to such term in the recitals. “QEP” has the meaning assigned to such term in the preamble.
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Related to Processing Assets

  • processing aid means any substance not consumed as a food ingredient by itself, intentionally used in the processing of raw materials, foods or their ingredients, to fulfil a certain technological purpose during treatment or processing and which may result in the unintentional but technically unavoidable presence of residues of the substance or its derivatives in the final product, provided that these residues do not present any health risk and do not have any technological effect on the finished product;

  • Operating Assets means all merchandise inventories, furniture, fixtures and equipment (including all transportation and warehousing equipment but excluding office equipment and data processing equipment) owned or leased pursuant to Capital Leases by the Company or a Restricted Subsidiary.

  • Connection Assets means that portion of the distribution system used to connect a customer to the existing main distribution system, and consists of the assets between the point of connection on a distributor’s main distribution system and the ownership demarcation point with that customer;

  • Processing Plant means plant systems, located on or off the Leased Premises, that include a gas processing plant, natural gasoline plant, gasoline plant, or other plant where raw unprocessed natural gas is processed to remove or extract Raw Mix from the natural gas stream to produce a Pipeline- Quality Natural Gas or Residue Gas and other products, and the Raw Mix is then either (i) separated by fractionation down to its base components prior to storage and/or transport that meets or conforms to all applicable Gas Processors Association (GPA) Standards and/or Specifications for the commercial sale of each liquefiable hydrocarbon product, or (ii) transported to another plant for separation down to its base components by fractionation prior to storage and/or transport for the commercial sale of each liquefiable hydrocarbon product. Any deductions, costs, or processing fees associated with the removal or recovery of Natural Gas Liquids is strictly limited to only that part of any Processing Plant or facility where Raw Mix is recovered, and if applicable at that plant, also fractionated to their component parts.

  • Processing Date means the day on which the first step of physical Processing is scheduled to occur, as identified in an Acknowledgement.